Investing in Costa Rica

Excellent opportunities

We at Cornice believe that Costa Rica currently provides excellent real estate investment opportunities, both in a direct (properties) and an indirect manner (funding of projects). We see real potential for high profit investments with many development projects in progress, the latest main trend being living in private (beach) communities. A main factor for this is the progress made, over the last years, by the government of Costa Rica with the large scale infrastructural projects.

Infrastructure makes a difference

For example, the second international airport of the country, near Liberia, has really opened up the northwest (Pacific) coast of the country for a rapidly increasing number of tourists, retirees and investors only a few years ago. With ease of access from the United States and other international destinations, demand for properties has been outstripping supply for some years now, giving rise to steadily increasing prices, all the way down (to a lesser degree) to the southern tip of the Nicoya Peninsula. The improvement of the main coastal road south from Samara to Malpais, planned to be finished late 2007, will further stimulate this trend.

Northwest region is special

The Gulf of Papagayo Project, with its Four Seasons Resort Hotel and Arnold Palmer signature golf course, having a special governmental approval for its development also greatly helps to promote the northwest region as an international holiday destination. No other region in the country enjoys this status. The local beach-communities, from Playas del Coco, Hermosa and Panama in the north to Flamingo and Tamarindo a little more south, are now among the best and most popular places to make a business or investment, or just to have a second home. The second phase of the Papagayo Project, which will add other luxury hotels, two marinas and two more golf courses to this region, will further improve the attractiveness for visitors as well as investors.

Midwest region has good perspective

Another region that enjoys steady growth is the midwest (Pacific) coast. The beach communities of Jaco and Quepos/Manuel Antonio for example, currently offer good opportunities for investors that have a medium term investment perspective. This is not to say that everybody wants to live at a beach, even if they could. Living year round in a beach town, believe it or not, has downsides too.

The best places to be

The Central Valley is in fact, until now, where most foreigners that live in Costa Rica have settled. Escazú is the place that has attracted and continues to attract many of them and is certainly one of the most developed suburbs of San José, with the biggest shopping mall in Costa Rica (Multiplaza) and the most modern hospital in Central America (CIMA), although Santa Ana is fast becoming another ‘best place to be’, situated just five more minutes (by the highway) west of Escazú.

The most exclusive way to live might however soon be located much closer to the city centre, around the Sabana park, because the government has approved, in may 2007, the plans to build ten luxury residential towers. Looking down at the ‘central park’ of San José, with your morning coffee in your hand, will be possible in 2009, having most constructions start next year. Pre-construction sales of these apartments may offer one of the best investment opportunities this country has to offer.

A very good idea

Overall, we at Cornice are convinced that investing in Costa Rica, under the right conditions, at the right location and moment, is a very good idea, and our team will assist you make the best choice among the many possibilities. We will help you make an informed choice, based on reliable information, weighing pros and cons, and with the prospect of having an excellent return on investment, no matter it is a home to live in or a pure capital investment.

The time is right, if you are ready to take the step. Contact us.